Device VCs Get Advance Look Into Latin America
This article was originally published in Start Up
Advance Medical Inc. is using $20 million in new capital to expand its reach in Latin America. The company is partnering with US-based medical device companies to sell their products in the region.
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Nearly stalled Western economies have driven corporations of all stripes to ponder the market potential promised by the so-called BRIC countries (Brazil, Russia, India and China). The medical device industry is no exception. The BRIC nations present a challenging but lucrative opportunity for companies willing to deviate from traditional markets to access economies with GDPs that place them in the top 15 economies in the world. Of the BRIC nations, China has become the number one destination for health care technology companies in the minds of CEOs of commercial-stage medical device companies. But executives staring only on China might be missing another compelling opportunity that literally rests under their noses: Latin America.
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